Bank of America Corp DE trimmed its holdings in City Holding Company (NASDAQ:CHCO - Free Report) by 43.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,021 shares of the bank's stock after selling 29,268 shares during the quarter. Bank of America Corp DE owned about 0.27% of City worth $4,544,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in shares of City in the 4th quarter valued at $29,000. Quarry LP acquired a new stake in City during the 3rd quarter worth $32,000. Simplex Trading LLC acquired a new stake in City during the 4th quarter worth $36,000. Geneos Wealth Management Inc. lifted its position in City by 113.1% in the second quarter. Geneos Wealth Management Inc. now owns 373 shares of the bank's stock valued at $46,000 after acquiring an additional 198 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in City by 463.2% in the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the bank's stock valued at $52,000 after acquiring an additional 352 shares during the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.
City Stock Up 0.2%
Shares of NASDAQ:CHCO opened at $143.46 on Friday. City Holding Company has a fifty-two week low of $113.21 and a fifty-two week high of $148.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19. The firm's 50-day simple moving average is $139.62 and its 200-day simple moving average is $129.11. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 15.70 and a beta of 0.48.
City (NASDAQ:CHCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. City had a net margin of 32.58% and a return on equity of 16.34%. The firm had revenue of $81.52 million during the quarter, compared to the consensus estimate of $80.64 million. As a group, equities research analysts predict that City Holding Company will post 9.29 earnings per share for the current year.
Insider Buying and Selling
In other City news, Director Sharon H. Rowe sold 400 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $143.96, for a total value of $57,584.00. Following the completion of the transaction, the director owned 10,576 shares in the company, valued at approximately $1,522,520.96. This represents a 3.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles R. Hageboeck sold 4,485 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $144.96, for a total value of $650,145.60. Following the completion of the sale, the chief executive officer directly owned 43,998 shares of the company's stock, valued at approximately $6,377,950.08. This trade represents a 9.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders purchased 444 shares of company stock worth $59,740. Company insiders own 1.75% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on CHCO shares. Weiss Ratings raised City from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Hovde Group boosted their target price on City from $135.00 to $143.00 and gave the company a "market perform" rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, City has a consensus rating of "Hold" and an average target price of $136.50.
Read Our Latest Research Report on CHCO
About City
(
Free Report)
City Holding Company NASDAQ: CHCO is a bank holding company headquartered in Morgantown, West Virginia. Through its wholly owned subsidiary, City National Bank, the company offers a full range of banking and financial services to individuals, businesses and nonprofit organizations. Its operations emphasize community-oriented banking, combining local decision-making with access to digital banking platforms.
The company's product portfolio includes deposit accounts such as checking, savings and money market accounts, as well as consumer and commercial lending solutions ranging from personal loans and mortgages to commercial real estate and equipment financing.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider City, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and City wasn't on the list.
While City currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
